Michael Phelps may have won a record eight gold medals during the 2008 Summer Olympics in Beijing, but now hes gaining notoriety for a less lofty achievement after a photo of the swimmer allegedly smoking marijuana from a bong was published in the United Kingdoms News of the World, the New York Daily News reported.

Phelps said yesterday he was sorry for his actions, issuing a public apology.

I engaged in behavior which was regrettable and demonstrated bad judgment, Phelps said. Im 23 years old and despite the successes Ive had in the pool, I acted in a youthful and inappropriate way, not in a manner people have come to expect from me.

He continued by saying he was sorry and vowing to his fans that this was a one-time mistake. I promise my fans and the public it will not happen again.

The picture of the famous swimmer was shot during a Nov. 6 party at the University of South Carolina in Columbia, where he was visiting a co-ed.

Sources told the British paper that Phelps was asked if he wanted to smoke marijuana. He said yes and was then led to a back room.

He looked just as natural with a bong in his hand as he does swimming in the pool, one witness said. He was the gold medalist of bong hits.

Phelps rep, Clifford Bloxham, was caught off guard by the photo and reportedly attempted to keep the photo from being published, with offers of cash as well as a deal to have the swimmer write a column for the paper for three years.

Phelps is on track to earn approximately $100 million from endorsements and hes already signed deals with Speedo, Visa, Frosted Flakes cereal and the video game Guitar Hero .